State Board of Administration of Florida Retirement System Grows Position in Helmerich & Payne, Inc. (NYSE:HP)

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State Board of Administration of Florida Retirement System increased its position in shares of Helmerich & Payne, Inc. (NYSE:HP) by 4.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 146,117 shares of the oil and gas company’s stock after purchasing an additional 6,414 shares during the period. State Board of Administration of Florida Retirement System owned approximately 0.13% of Helmerich & Payne worth $7,396,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Geode Capital Management LLC boosted its stake in shares of Helmerich & Payne by 8.4% during the 4th quarter. Geode Capital Management LLC now owns 1,504,996 shares of the oil and gas company’s stock worth $72,028,000 after purchasing an additional 117,117 shares during the period. Rothschild & Co. Asset Management US Inc. boosted its stake in shares of Helmerich & Payne by 0.8% during the 2nd quarter. Rothschild & Co. Asset Management US Inc. now owns 968,743 shares of the oil and gas company’s stock worth $49,038,000 after purchasing an additional 7,754 shares during the period. Alps Advisors Inc. boosted its stake in shares of Helmerich & Payne by 6.2% during the 1st quarter. Alps Advisors Inc. now owns 710,364 shares of the oil and gas company’s stock worth $39,468,000 after purchasing an additional 41,456 shares during the period. Wells Fargo & Company MN boosted its stake in shares of Helmerich & Payne by 37.8% during the 1st quarter. Wells Fargo & Company MN now owns 639,200 shares of the oil and gas company’s stock worth $35,514,000 after purchasing an additional 175,406 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of Helmerich & Payne by 11.6% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 412,724 shares of the oil and gas company’s stock worth $20,892,000 after purchasing an additional 42,761 shares during the period. 90.41% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE:HP traded up $0.33 during trading on Wednesday, reaching $36.98. 7,193 shares of the stock were exchanged, compared to its average volume of 1,601,561. The firm has a market cap of $4.06 billion, a price-to-earnings ratio of 262.25 and a beta of 1.49. Helmerich & Payne, Inc. has a 12-month low of $36.22 and a 12-month high of $73.74. The firm’s 50-day moving average price is $45.38 and its 200 day moving average price is $52.48. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.47 and a current ratio of 2.86.

Helmerich & Payne (NYSE:HP) last posted its quarterly earnings results on Wednesday, July 24th. The oil and gas company reported $0.40 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.35 by $0.05. Helmerich & Payne had a positive return on equity of 4.06% and a negative net margin of 2.54%. The business had revenue of $687.97 million for the quarter, compared to analyst estimates of $689.41 million. During the same period in the prior year, the company posted ($0.01) EPS. The business’s revenue was up 6.0% compared to the same quarter last year. As a group, equities research analysts forecast that Helmerich & Payne, Inc. will post 1.58 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Monday, August 12th will be issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 7.68%. The ex-dividend date is Friday, August 9th. Helmerich & Payne’s dividend payout ratio is 2,028.57%.

A number of equities research analysts recently weighed in on the stock. B. Riley reiterated a “buy” rating and set a $63.00 price objective (down previously from $83.00) on shares of Helmerich & Payne in a report on Friday, August 2nd. TheStreet lowered shares of Helmerich & Payne from a “b-” rating to a “c+” rating in a report on Tuesday, May 28th. Bank of America decreased their price objective on shares of Helmerich & Payne from $56.00 to $46.00 and set a “buy” rating for the company in a report on Wednesday. JPMorgan Chase & Co. decreased their price objective on shares of Helmerich & Payne from $64.00 to $54.00 and set an “overweight” rating for the company in a report on Tuesday, August 6th. Finally, Royal Bank of Canada set a $65.00 price objective on shares of Helmerich & Payne and gave the company a “buy” rating in a report on Friday, July 26th. Four analysts have rated the stock with a sell rating, seven have issued a hold rating and twelve have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $61.86.

About Helmerich & Payne

Helmerich & Payne, Inc primarily engages in drilling oil and gas wells for exploration and production companies. The company operates through U.S. Land, Offshore, and International Land segments. The U.S. Land segment drills primarily in Colorado, Louisiana, Ohio, Oklahoma, New Mexico, North Dakota, Pennsylvania, Texas, Utah, West Virginia, and Wyoming.

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Institutional Ownership by Quarter for Helmerich & Payne (NYSE:HP)

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